Bridging in a changing market
Educating businesses and individuals on the many uses of bridging is critical as the market evolves and matures. Bridging Finance Solutions works with a range of customer groups who are each able to benefit from the fast, flexible and entrepreneurial funding that bridging offers.
Managing director of Bridging Finance Solutions, Steve Barber, explained: “Brokers are able to advise clients on the many ways bridging can offer a viable solution for any of the following: a purchase that needs to be completed in quick time, a refurbishment or conversion programme, funding of a development including construction costs and general capital raising. As with any form of bridging, the loan offers a short term solution to overcome an immediate obstacle, prior to long term funding being put in place.
“The same functions of bridging for brokers applies to developers and contractors, with the exception of dealing with the client direct. Clients are able to benefit from a tangible alternative to high street funding which may be more suitable to individual client’s needs, where a fast paced finance package can be put in place.
“A growing client group for BFS, high street lenders are able to refer customers to BFS in instances where funds need to be secured quickly, ensuring they retain their client who will return to them to arrange long term lending.
“As well as all property based solutions referred to above, solicitors are able to utilise bridging to overcome issues during probate, inheritance tax, divorce and other cash flow requirements, or when mortgagees change offers or have retentions. Chain breaking remains a buoyant area of funding.
“Accountants can also benefit from bridging, allowing the management of immediate cash flow requirements including tax bills right the way through to MBO’s and MBI ‘s as well as directors loan accounts.”
For further information on Bridging Finance Solutions please visits www.bridgingfinance-solutions.co.uk or call 0844 225 7554.
Bridging Finance Solutions are this year’s Business Masters 2017 sponsors in the North West and Yorkshire.
